It is obvious the Trinbagonian politicians and politicians globally have already failed pandemic economics. Firstly, never in history did the vast majority of the world decide to cease economic activities except for those essential to life. If people are on lockdown how will they consume? If they have no or little money how will they buy? How will governments collect taxes?
Some people were barely eating every day and this economic shutdown is driving them into absolute extreme poverty. Poverty leads to shorter lifespans. People in the top 25 per cent of prosperous countries live 14 years longer than people of the bottom 25 per cent.
I am asking, is the cure worse than the disease?
In any disaster, protecting, preserving and working towards restoration of normal life should be implemented urgently. It’s not the aim of any stimulus plan I have seen so far. I propose aggressive and frequent testing, building up the population’s immunity with a diet rich in Vitamin C and proper nutrition, with everyone wearing masks and practising good hygiene. We need to resume economic activities so that everyone can eat.
The global economy was fragile and a bubble built on low interest rates and quantitative easing (money creation) and debt.
According to the International Monetary Fund, global debt is at US$257 trillion—322 per cent of global GDP.
If people, corporations and governments had savings and were not so heavily indebted they would be able to weather the Covid-19 storm.
Let’s look at history and see how people successfully dealt with viruses or other diseases and pandemics.
Like the flu, even if we get it under control, it will evolve and come back in a mutated form. As of April 7, there were 1,421,577 cases and 81,688 deaths. And most of the people who died had other health complications. We need to protect the very young and very old and people with health complications and we will be okay.
When will this lockdown come to an end? Two months or two years?